Brokerages Set Navios Maritime Partners L.P. (NMM) PT at $2.35

Navios Maritime Partners L.P. (NYSE:NMM) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.35.

A number of brokerages recently weighed in on NMM. Zacks Investment Research lowered shares of Navios Maritime Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. raised shares of Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 17th. Finally, ValuEngine lowered shares of Navios Maritime Partners from a “hold” rating to a “sell” rating in a report on Friday, September 14th.

Institutional investors have recently modified their holdings of the stock. Evermore Global Advisors LLC increased its holdings in shares of Navios Maritime Partners by 4.9% in the second quarter. Evermore Global Advisors LLC now owns 10,792,588 shares of the shipping company’s stock valued at $20,398,000 after purchasing an additional 500,155 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Navios Maritime Partners by 31.4% in the second quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock valued at $4,460,000 after purchasing an additional 564,098 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Navios Maritime Partners by 982.2% in the first quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock valued at $764,000 after purchasing an additional 385,048 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Navios Maritime Partners by 128.7% in the second quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 43,200 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Navios Maritime Partners by 28.3% in the first quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock valued at $2,536,000 after purchasing an additional 310,316 shares in the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:NMM traded down $0.03 during trading on Friday, reaching $1.57. The stock had a trading volume of 200 shares, compared to its average volume of 470,828. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $268.14 million, a P/E ratio of 9.88 and a beta of 1.55. Navios Maritime Partners has a 52 week low of $1.43 and a 52 week high of $2.62.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, November 6th. Navios Maritime Partners’s dividend payout ratio is currently 50.00%.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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